HomeMy WebLinkAbout31. 15-227
APRIL 28, 2015 15-227 RESOLUTION
(CARRIED__ 7-0__ LOST________ LAID OVER________ WITHDRAWN_______)
PURPOSE: APPROVE 2014 END OF YEAR FUND TRANSFERS
INITIATED BY: DEPARTMENT OF FINANCE
BE IT RESOLVED by the Common Council of the City of Oshkosh that the
proper City Officials are hereby authorized and directed to transfer:
See Attached Exhibit “A”
City of Oshkosh
� Finance Department
� 215 Church Ave., PO Box 1 130
Oshkosh, WI 54903-1130
(920) 236-5006 (920) 236-5039 FAX
OIHKQIH
ON THE WATER
MEMORANDUM
TO: Honorable Mayor and Members of the Common Council
FROM: Trena Larson, Finance Director
DATE: April 23, 2015
RE: Approve Fund Transfers
BACKGROUND
One of the regular steps in the year end process requires an evaluation of the overall spending from the
year(2014). In doing so, all accounts are evaluated by the amounts over or under against the respective
budget. The transfer process includes utilizing funds from accounts that were under spent, as well as
revenues and fund equity when necessary, to support the accounts that were over spent. Because this
effectively alters the previous year's budget, Council approval is required in accordance with Section
12-3 of the Municipal Code.
ANALYSIS
Per the schedule attached to this item, all transfers are outlined. The first section of the attachment
includes all divisional budgets that had spending in excess of the original budget, and the second section
includes divisional budgets that spent less than their original budget allocation and can be used to cover
the section one overages.
FISCAL IMPACT
Aside from the spending (in section one) and the savings (in section 2) for 2014, there is no direct
financial impact related to the Fund Transfer. Rather, it is an accounting function that reconciles the
budget to the actual numbers for the 2014 Fiscal Year.
RECOMMENDATION
Staff recommends that Council adopt this resolution.
R spectfully Submitted, Approved:
V�
� ���
Trena Larson Mark Rohloff
Finance Director City Manager
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